ILCG vs SPY
iShares Morningstar Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ILCG or SPY?
Large Cap Growth against Large Cap Blend.
ILCG has a lower expense ratio. ILCG led over 3Y and the full window, SPY over 1Y and 5Y. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 49.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ILCG | SPY |
|---|---|---|
| Expense Ratio | 0.04%Best | 0.09% |
| AUM | $3.1B | $804.7B |
| Dividend Yield | 0.43% | 0.98% |
| Holdings | 331 | 505 |
| YTD Return | +10.22% | +12.47%Best |
| 1Y Return | +12.26% | +17.51%Best |
| 3Y Return (annualized) | +23.06%Best | +21.18% |
| 5Y Return (annualized) | +11.46% | +12.88%Best |
| Volatility (annualized) | 16.9% | 14.7%Best |
| Max Drawdown | -53.2%Best | -56.5% |
| $10,000 over 5 years | $17,203 | $18,327Best |
| Top 10 Weight | 49.3% | 38.0%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Jun 28, 2004 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jul 2, 2004 to Sep 11, 2026 (22.2 years).
ILCG vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 22.2 years both funds cover.
ILCG vs SPY Performance
iShares Morningstar Growth ETF (ILCG) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year ILCG returned +12.26% while SPY returned +17.51%. Year to date, ILCG is up 10.22% versus a gain of 12.47% for SPY.
Over three years, ILCG compounded at +23.06% per year against +21.18% for SPY; over five years the annualized figures are +11.46% and +12.88% respectively. Across the full 22-year window we track, ILCG has the edge at +10.89% annualized vs +9.37%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ILCG has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 14.7% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.2% for ILCG and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ILCG charges 0.04% per year while SPY charges 0.09%. On a $10,000 position that is $4 vs $9 annually, a gap of $5 per year that compounds over a long holding period. On income, ILCG currently yields 0.43% against 0.98% for SPY.
Holdings Overlap
94.9% of ILCG's money is in holdings SPY also owns. 70.0% of SPY's money is in holdings ILCG also owns.
Most of ILCG is already inside SPY. Owning both mostly buys the same companies twice.
252 positions in common, counted across the 326 positions we hold weights for in ILCG and 504 in SPY, against full books of 331 and 505.
What only one of them owns
Our book lists 245 positions for SPY that do not appear in our book for ILCG (29.8% of the fund), and 68 for ILCG that do not appear in SPY (4.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ILCG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 15.64% | 7.71% | 7.93% |
| AAPLApple, Inc | 6.95% | 6.83% | 0.12% |
| AVGOBroadcom Inc | 5.93% | 2.97% | 2.96% |
| AMZNAmazon.Com Inc | 4.48% | 4.08% | 0.40% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.71% | 5.50% | 2.79% |
| GOOGLAlphabet A Usd 0.001 | 3.67% | 3.33% | 0.34% |
| GOOGAlphabet Inc | 2.94% | 2.67% | 0.27% |
| LLYEli Lilly & Co. | 2.85% | 1.33% | 1.52% |
| AMDAdvanced Micro Devices Inc. | 2.39% | 1.27% | 1.12% |
| METAMeta Platforms, Inc. | 1.42% | 1.94% | 0.52% |
94.9% of ILCG is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ILCG or SPY?
ILCG has an expense ratio of 0.04% while SPY charges 0.09%. ILCG is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, ILCG or SPY?
Over the past year ILCG returned +12.26% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (22 years), ILCG annualized +10.89% vs +9.37% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ILCG or SPY?
ILCG has been the more volatile fund at 16.9% annualized versus 14.7% for SPY. Worst drawdown: ILCG -53.2% vs SPY -56.5%.
Should I hold both ILCG and SPY?
ILCG and SPY have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between ILCG and SPY?
94.9% of ILCG's money is in holdings SPY also owns. 70.0% of SPY's is in holdings ILCG also owns. They hold 252 positions in common, counted across the 326 positions we hold weights for in ILCG and 504 in SPY.
Which pays a higher dividend, ILCG or SPY?
ILCG yields 0.43% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than ILCG?
ILCG has a lower expense ratio. ILCG led over 3Y and the full window, SPY over 1Y and 5Y. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 49.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.